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Fly News Breaks for February 11, 2016
SNN
Feb 11, 2016 | 08:21 EDT
As reported previously, UBS downgraded Smith & Nephew to Neutral from Buy, citing lowered guidance that implied no underlying margin expansion. The firm also believes the U.S. reimbursement risk is underappreciated and that management commentary suggests the tax rate is unlikely to decline further, removing one of the key growth drivers in recent years.
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